New Delhi: Innovation, marketing and strong distribution network are key to success for FMCG products,” said Harsh Mariwala, Founder and Chairman, Marico Ltd and Past President, FICCI, recently while addressing the FICCI-FLO seminar on ‘Right to Win.’

“It is difficult to create a culture of innovation in businesses and it is the leadership to ensure that people in the organization experiment and take risks and remove the fear of failure. Constant innovation and creating a culture that encourages new ideas are key to building a successful business,” said Mariwala.

He added: “I realized the importance of innovation 20 years back, When I look back at our brands, they all have something different which has succeeded in the market. So, if you want to succeed in the marketplace you have to innovate, not just to launch a product but also on a perpetual basis, because it is a matter of time others will start copying you.”

“It is, however, difficult to create a culture of innovation in businesses and it is the leadership to ensure that people in the organization experiment and take risks and remove the fear of failure. Entrepreneurs will lead the country to higher growth and prosperity and suggest businesses to adopt a transformative ‘digital approach’ for sustainable growth,” he added. /BI/